MTN Group CEO resigns over $5.2b Nigerian fine

South Africa's MTN Group said on Monday its chief executive will resign immediately as the telecoms firm continued talks with the Nigerian government over a $5.2 billion fine.

According to Reuters,Sifiso Dabengwa will be replaced by non-executive chairman Phuthuma Nhleko for a maximum of six months, the company said in a statement.

MTN was fined in October by the Nigerian telecoms regulator for failing to cut off users with unregistered SIM cards.
The company said it continued talks with the Nigerian authorities over the fine.